Forex News: Carry Trades Fall Overnight, Is the US Stock Market Next?


[U][B]Fundamental Headlines[/B][/U]

• [B]AUDUSD [/B]– Australian leading indicators issued by the Conference Board and Westpac showed that economic growth in the country should remain resilient in the next 3-9 months, supporting the case for the RBA’s most recent rate hike.
• [B]USDJPY [/B]– The Japanese merchandise trade surplus narrowed to 1,052.8 billion yen in October from 1,635.9 billion yen, despite record high exports, as oil imports weighed on the balance.
• [B]EURUSD [/B]– Italian retail sales faltered in September, falling 0.2 percent during the month and dropping 0.6 percent from a year earlier. However, Italian consumer confidence in November improved to 107.6, suggesting spending growth may have improved.
• [B]GBPUSD [/B]– The BOE’s November meeting minutes reflected a 7-2 vote to keep rates steady, as members Blanchflower and Gieve voted for a cut on fears that money markets may become tighter as the credit crunch persists.

• [I]Tokyo Leads Indexes Lower As U.S. Economic Worries Spread /I - The Wall Street Journal
• [I]Rudd Says Australian Election Will Be Close, Tough and Nasty /I - Bloomberg
• [I]Japan’s Exports Rise to Record on Asia, Europe Demand /I - Bloomberg
• [I]Bank of England Panel Voted 7-2 for Unchanged Rate /I - Bloomberg
• [I]Big Buybacks Begin to Haunt US Firms ([/I][link](javascript:void(0);/1195648495660/)) - The Wall Street Journal
• [I]Asean Charter Is Adopted, But Myanmar Discord Mars Effort /I - The Wall Street Journal